1. Field of the Invention
The present invention relates to apparatus which are used to orient and process checks. More particularly, the present invention relates to apparatus which are used to orient checks in a desired configuration relative to a processing station and then process the checks in a given manner.
2. Description of the Prior Art
In general, numerous check processing machines have been used throughout the history of banking. Today, checks are examined to verify accuracy of specific checks drawn against a specific bank account number. If there is a discrepancy as read by the check reading machine, the check is removed from the batch and a special encoding paper strip with the check account sequence number is affixed to the bottom of the check and generally aligned with the preprinted numbers on the check. The corroborating paper strip is affixed to the check by means such as a thin plastic strip having adhesive on one side. The thin plastic strip is of sufficient width to overlay the back of the paper corroborating strip (which may be 0.625 inch wide) as well as a widthwise section from the bottom of the check. After the processing has been completed and the correct bank account number for the check has been verified by the bank clerk, it is necessary to remove the corroborating paper strip before the processed check is returned to the party who wrote the check. In most banking operations, this destripping of the corroborating paper strip from the bottom of the check is performed by hand and is a time consuming process. The operation to destrip the paper check costs each bank approximately 45 cents per check, which can total upwards of $ 35,000 per year additional charges for even small banks. Therefore, there is a significant need to arrive at an apparatus or system for automating the process of destripping the corroborating paper strip from the bottom of the check.
In general, apparatus for Orienting checks to be aligned in a certain manner are well known in the prior art. However, the combination of orientating a check so that a portion of it can be cut in a certain manner and thereafter cutting the check at a precise location so that the original check is intact while the corroborating paper strip is removed therefrom is not known in the prior art.